The MMBC Continuum, the economic accelerator for stage II Minority and Women-Owned Business Enterprises (M/WBEs), is proud to partner with Darrell Freeman, “the Competition Grantor” to sponsor the “Vendor of Tomorrow” Business Plan Grant Competition. Mr. Freeman officially announced this partnership (The Freeman Foundation) and Business Plan Competition on June 28, 2017 at the MMBC Continuum’s 10th annual Economic Development Forum.

This partnership encompasses a competitive Business Plan competition for Stage II M/WBEs whose business model best demonstrates the qualities/attributes of a true “vendor of tomorrow”. Twenty-five thousand dollars ($25,000) will be awarded among the top three (3) M/WBE winners of this competition. In addition, winners will be offered tailored consultation/mentorship based on their competition entry.

The Vendor of Tomorrow Business Plan Grant Competition is open to certified, minority and women-owned businesses that meet the following criteria:

Current member of The MMBC Continuum as of the competition start date and must remain so through the competition end date

Must be registered with the Secretary of State in Tennessee

Business must be owned, operated and headquartered in Memphis, TN and Shelby County

Business owner must have and maintain at least 51% ownership in the company

Business must have been in continuous operation selling a product or service for not less than twelve (12) months at the start of the contest

Must have between 1-99 employees on its payroll

Not under bankruptcy protection or have judicial liens or attachments

In addition, “Competition Winners” will be required to provide the following as proof:

Copy of valid Secretary of State Certificate; must be in good standing with the State of TN as of the date of Submission and must remain so through the end of the Contest

Copy of valid Business License

Business owner must be an authorized agent of the registered business

Copy of utility or other recurring bill reflecting the street address of the business

Copy of current M/WBE certificate

If your business meets the above criteria, we invite you to apply by responding to the Grant Competition application questionnaire. We ask that your response be no longer than 10 (ten) pages in letter size, PDF format. Questions should be submitted in writing to pharris@mmbc-memphis.org. All Entries must be emailed and received by no later than 5:00 p.m. (CST), Friday, October 6, 2017 to pharris@mmbc-memphis.org.

Sincerely,
Jozelle Luster BookerPresident
The MMBC Continuum

OFFICIAL RULES

1. COMPETITION PERIOD:
The “Vendor of Tomorrow” Business Plan Grant Competition (the "Competition") will be announced on June 28, 2017 at The Mid-South Minority Business Council Continuum’s (MMBC Continuum) 10th Annual Economic Development Forum (EDF) held at the Guest House at Graceland located at 3600 Elvis Presley Blvd., Memphis, TN 38116. The announcement will take place during the Opening Session of the EDF which begins at 7:30 a.m. Central Standard Time (CST). Grant Competition guidelines, eligibility requirements and application process will be available for review on MMBC Continuum’s website (www.mmbc-memphis.org) on September 4, 2017. The Competition consists of the following phases as set forth in the chart below:

Phase

Start Date

End Date

Grant Announcement

06/28/2017

Submission Period

09/04/2017

10/06/2017

Grant Review Period

10/09/2017

11/03/2017

Announcement of Winners

11/17/2017

2. ELIGIBILITY:
The Business Plan Competition is open to certified, minority and women-owned businesses (M/WBEs) that are current members (as of the competition start date) of The Mid-South Minority Business Council Continuum (MMBCC) and are owned, operated and headquartered in Memphis, TN. M/WBE entrants must have been in continuous operation selling a product or service for not less than twelve (12) months at the start of the competition. In order to be considered an eligible “business” for purposes of this Competition, the business must also meet all of the following criteria:

M/WBE business owner must be at least eighteen (18) years of age at the time of Submission

M/WBE business owner must have at least 51% ownership in the company

The business must be registered with the Secretary of State in Tennessee and Winners will be required to provide the following as proof:

Copy of valid Secretary of State Certificate

Copy of valid Business License

Copy of utility service or other recurring bill in the name of the small business, reflecting the street address of the small business;

M/WBE business owner must be an authorized agent of the registered business

The business must be in good standing with the State of TN as of the date of Submission and must remain so through the end of the Contest;

The business must have between 1-99 employees on its payroll

Not under bankruptcy protection or have judicial liens or attachments

Competition sponsor (The MMBC Continuum) shall determine, in its sole discretion, whether an entry meets the eligibility criteria to participate in the Competition. Sponsor's decisions regarding eligibility and all other aspects of the Competition are final and binding.

Sponsor, its parent and affiliated companies, and each of their respective, officers, directors, employees, agents and persons engaged in the development, production or distribution of materials for this Competition (collectively, the “Competition Parties”) and the immediate family members (i.e., parent, child, sibling, and spouse) of each and/or persons living in the same household of such individuals (whether related or not) are not eligible to participate in the Competition. This competition is subject to all applicable federal, state, and local laws and regulations, and is void in all other geographic locations where prohibited by law.

3. GRANTS:
There will be a total of three (3) Winners: One (1) Grand Prize winner of $15,000; Two (2) Second Prize winners of $5,000. Total value of all Grant Prizes: $25,000 (each a "Grant" and together, the "Grants").

4. HOW TO ENTER:
To enter the Competition, entrants (“Entrants”) are required to visit the Competition website located at mmbc-memphis.org (the “Competition Site”) to download the grant application package and submit an entry (the “Submission Period”) between September 4, 2017 and October 6, 2017. Entrants will be required to provide responses to the following: (1) Give us your elevator pitch (tell us what you do, what you sell, the service you offer…) (2) Tell us about your business, what inspired you to start your business, what makes your business stand out and what difference your business makes in your community (job creation, poverty, etc.) and/or the environment (3) How would you use the Grant money to make a significant impact in your business? (4) In addition to Competition Grant Funds awarded, how would your business best utilize and benefit from a consultation/mentorship award? and (5) Provide a Strategic Growth Business Plan to include how you have prepared your business for strategic growth (Scalability) as a “Vendor of Tomorrow”. The business plan should be comprehensive and demonstrate how you have prepared your business to: a) successfully compete in a full market supply/demand economy; b) provide corporations/purchasing managers access to emerging markets and/or innovative ways to penetrate them; c) provide broad capabilities in growth industries/sectors; d) expanded quality control systems and; e) vision and transferrable value. We ask that your response be no longer than 10 (ten) pages including all attachments and appendices in letter size, PDF format. In addition to answering the questions listed above, each Entrant will be required to submit the following information as a cover page of their grant application package:

Name of Business

Name of Business Owner / Authorized Agent

Phone Number

Position/Title at Business

Email Address

Street Address

City

State

Zip

Business Website, if available

Four Digital Images:

Company Logo

Up to 3 Photos for General Representation of the Business

While not required, in addition to the above, Entrant may submit their "elevator speech" in video format not to exceed ninety (90) seconds in length.

All entries are subject to approval by Sponsor, in Sponsor’s sole discretion. Entrants will receive an email if their entry has been accepted or rejected. Failure to meet all eligibility requirements or to submit a complete grant application package will result in immediate disqualification and non consideration of your grant application.

Except where prohibited, entry in the Competition constitutes each Entrant’s consent to the publication of her/his/its name, organizational information and completed Entry, including the Digital Image, (to the extent applicable) in any media for any commercial or promotional purpose (including, without limitation, the Internet), without further compensation.

By entering the Competition and providing an email address, each Entrant grants Sponsor express permission to send Entrant emails related to the Competition, including, but not limited to notification of Finalists, Winners and a follow-up email in order to gather feedback regarding the Competition to be used in the planning and design of future Competitions.
Limit: one (1) entry per business.

5. DIGITAL IMAGERY AND VIDEO CRITERIA:
Digital images and company logo must be in one of the following formats: .jpg, .png or .gif. Each digital image (including company logo) may not exceed 5MB. The optional video should not exceed 90 seconds in length.

If any digital image or the video contains any material or elements that are not owned by the Entrant and/or are subject to the rights of third parties, and/or if any persons appear in the video or image, the Entrant is responsible for obtaining, prior to submission of the photograph or video, any and all releases and consents necessary to permit the exhibition and use of the image or video in the manner set forth in these Official Rules. If any person appearing in any photograph or video is under the age of majority in their state/province/territory of residence the signature of a parent or legal guardian is required on each release.
If a professional image or video is submitted, Entrant is responsible for securing usage rights from the photographer or videographer to reproduce, distribute, display, and create derivative works of the image by Sponsor in connection with the Competition and promotion of the Competition, in any media now or hereafter known.

Upon Sponsor's request, each Entrant must be prepared to provide (within seven (7) calendar days of receipt of Sponsor's request) such signed release from all third parties who (a) appear in the photograph or video submitted or (b) whose owned content appear in the photograph or video submitted, authorizing use by Sponsor and its licensees ("Authorized Parties") in accordance with these Official Rules. Failure to provide such releases upon request may result in disqualification at any time during the Contest and selection of an alternate winner.

6. JUDGING (GRANT REVIEW) PERIOD:
During the Judging Period, eligible entries will be judged by Sponsor or its designated representatives and narrowed down to (5) five finalists (the “Top 5”). The following will be considered in determining the Top 5:

The Top (5) five finalists will be judged by a Competition Evaluation Committee consisting of community leaders from various sectors including government, education, and financial/business sectors. All finalists will be notified by e-mail or phone call and will be invited to attend the formal award announcement at The MMBC Continuum’s Robert R. Church Awards Luncheon on November 17, 2017. Finalists are not required to be present at the luncheon to win. In addition, Winners may be featured on The MMBC Continuum’s website, press releases, etc. Winners may not issue their own press release without prior approval by The MMBC Continuum.

7. GRANT ACCEPTANCE AND TAX LIABILITY:
Grants are non-transferable. Sponsor reserves the right, in its sole discretion, to substitute a prize of equal or greater value if advertised prize becomes unavailable. All details of any prize not specified herein shall be determined solely by Sponsor. By accepting a Grant, each Winner acknowledges compliance with these Official Rules. All federal, state, local or other tax liabilities arising from this Competition are the sole responsibility of each Winner, respectively. Limit of one Grant per Entrant. All other expenses relating to acceptance of a Grant, including but not limited to taxes and any other expenses not specified herein are the sole responsibility of each Winner. Grant conditions may be added or modified by Sponsor, in its sole discretion. Acceptance of a Grant constitutes permission for the Sponsor and its designees to use each Winner’s name, photographs, entry material, other likenesses and biographical information for advertising, promotional or trade purposes, including but not limited to online announcements, in commerce and in all media worldwide without limitation or additional compensation, except where prohibited by law.

A Winner may waive its right to receive the Grant. The Grant is non-assignable and non-transferable. No substitutions may be made by the Winner. Sponsor shall not withhold taxes from any award as it is the sole responsibility of the Winners to pay fees, taxes, etc. that are due in acceptance of this Grant. Prior to receiving the Grant, Winners must execute a W-9 tax form verifying their tax identification number. Winners will be required, as instructed by Sponsor, to complete and sign (i) an affidavit of eligibility/liability certifying that such Winner has complied with the Official Rules of the Competition, and (ii) a liability and publicity release (except where prohibited by law). Failure to sign and return any of these documents or to comply with any term or condition of these Official Rules may result in a Winner’s disqualification, the forfeiture of its interest in the Grant, and, at Sponsor’s discretion, the presentation of the Grant to a substitute recipient. A Grant not won and/or claimed by a Winner and not awarded to a substitute recipient by Sponsor in accordance with these Official Rules will remain the property of Sponsor.
Payment of Federal, State and Local taxes and fees due, if any, are the sole responsibility of the Winner.

8. DISQUALIFICATION:
Sponsor reserves the right, in its sole discretion, to disqualify any Entrant at any time that it finds to be tampering with the entry process or the Competition; to be acting in violation of these Official Rules; or to be acting in an inappropriate or disruptive manner, or with intent to annoy, abuse, threaten or harass any other person.

Submitted Entries must be consistent with The MMBC Continuum Mission, Strategy and Values and Sponsor reserves the right, in its sole discretion, to reject and/or disqualify any entries at any time that Sponsor deems to be obscene, defamatory, profane, offensive, lewd, pornographic, false, misleading, deceptive, or otherwise inconsistent with its editorial standards, audience expectations, or reputational interests or that Sponsor believes may violate any applicable law or regulation or the rights of any third party or may subject the contest, Sponsor, or Sponsor's advertisers, clients, or customers to controversy, negative publicity, scorn, or ridicule.

Should Sponsor determine, in its sole discretion, that any announced Winner has violated any of the prohibitions contained in these Official Rules or should be disqualified for any other reason, Sponsor shall have no obligation to award a Grant to such Entrant.

As a condition of entry, Sponsor reserves the right to conduct a background check on any potential finalist and/or winner and reserves the right in its sole discretion to disqualify any entrant based on such background check if in its sole discretion, the Sponsor determines that awarding the prize to such Entrant might reflect negatively on the Sponsor’s image and/or reputation.

9. GENERAL RELEASE/LIMITATION OF LIABILITY:
By participating in the Competition, each Entrant releases and holds Sponsor, its parent and affiliate companies and each of their directors, officers, employees, representatives, and agents harmless from and against any claims, costs, injuries, losses or damages of any kind arising out of or in connection with the Competition or with the acceptance, possession, use of or defect in any Grant (including, without limitation, claims, costs, injuries, losses or damages related to personal injuries, death, damage to, loss or destruction of property, rights of publicity or privacy, defamation or portrayal in a false light). Sponsor is not responsible for any incorrect or inaccurate information, whether caused by technical or human error or otherwise which may occur in the processing of entries or voting in this Competition or in the running of this Competition. Sponsor will not be responsible for typographical, printing or other errors in these Official Rules or in other materials relating to the Competition.

If for any reason, the Competition is not capable of running as planned, including but not limited to by reason of fraud, computer virus, worms, bugs, tampering, unauthorized intervention, technical limitations or failures, human error, mistake or any other cause that in the sole opinion of Sponsor could compromise, undermine, corrupt or otherwise affect the security, integrity, fairness, administration, or proper conduct of this Competition, Sponsor reserves the right, in its sole discretion, to cancel, terminate, modify or suspend the Competition at any time and without notice.

Notwithstanding anything set forth above, to the extent that the preceding release is determined by a tribunal of competent jurisdiction to be invalid, unenforceable or void for any reason, each Entrant agrees that, to the fullest extent permitted by law (i) any and all disputes, claims, and causes of action arising out of or in connection with the Competition, or any awards awarded shall be resolved individually without resort to any form of class action; (ii) any claims, judgments and awards shall be limited to actual out-of-pocket costs incurred by such Entrant, but in no event attorney's fees and no greater than $1,000; and (iii) under no circumstances will any Entrant be permitted to obtain any award for, and Entrant hereby waives all rights to claim, incidental, punitive or consequential damages.

10. CONSTRUCTION, WAIVER AND DISPUTE RESOLUTION:
The construction, validity, interpretation and enforceability of these Official Rules, and all issues and questions relating thereto, along with the rights and obligations of all Entrants and of Sponsor, shall be governed by, and construed in accordance with the laws of the State of Tennessee, without giving effect to any choice of law or conflict of law rules or provisions. In the event that any provision is determined to be invalid or otherwise unenforceable, such determination shall not affect the validity or enforceability of any other provision, and these Official Rules shall be construed in accordance with their terms as if the invalid or unenforceable provision was not contained therein.

Any specific waiver of any obligation hereunder by Sponsor does not constitute a general waiver of that obligation nor of any other obligation of Entrant.

Any dispute concerning this Competition shall be submitted to binding arbitration in Tennessee within one (1) year from the date that the cause of action arose (or, if multiple cause of actions are involved, from the date that the first cause of action arose), with such arbitration conducted pursuant to the then prevailing rules of the American Arbitration Association. To the fullest extent permitted by law, no arbitration brought pursuant to these Official Rules shall be joined to any other arbitration initiated pursuant to these Official Rules.

11. COPYRIGHT:
By participating in the Submission Process for this Competition, Entrant grants to Sponsor, its parent and affiliated companies an exclusive, assignable, royalty-free and irrevocable right and license to edit or otherwise use all materials submitted by Entrant in connection with the Competition, in whole or in part, for any purpose and in any manner or media (including, without limitation, the Internet) now known or hereafter devised, throughout the world in perpetuity, and to license others to do so, without notice and without compensation, royalty, accounting, liability or obligation of any kind to any Entrant. Each Entrant further agrees that it will use its best efforts to have its employees, consultants, volunteers, officers and directors sign any additional licenses or releases that Sponsor may require.

BY SUBMITTING SUBMISSION MATERIALS, ENTRANTS EACH ACKNOWLEDGE THAT THE SUBMISSION MATERIALS, AND ANY OTHER MATERIALS SUBMITTED IN CONNECTION WITH THIS PROGRAM, MAY BE POSTED ON THE SPONSOR’S WEBSITE(S), IN SPONSOR'S SOLE DISCRETION. Sponsor reserves the right to edit the Submission Materials and other materials prior to posting them to the website in its sole discretion.

12. WINNERS LIST:
The names of the Winners may be obtained following the end of the Competition on November 17, 2017, by visiting the Sponsor’s website: www.mmbc-memphis.org.

Business Introduction: Give us your elevator pitch. (Describe what you do, what you sell, the service you offer, the target-market for the service/product offered and how your business aligns with being a true “Vendor of Tomorrow”. While not required, this response may be submitted in video format not to exceed ninety (90) seconds in length.

Business Differentiator: Tell us about your business, what inspired you to start your business, what makes your business stand out and what difference/impact your business makes in your community (job creation, poverty, etc.) and/or the environment.

How would you use the Competition Grant Funds to make a significant impact in your business?

In addition to Competition Grant Funds awarded, how would your business best utilize and benefit from a consultation/mentorship award?

Provide a Strategic Growth Business Plan to include how you have prepared your business for strategic growth (Scalability) as a “Vendor of Tomorrow”. The business plan should be comprehensive and demonstrate how you have prepared your business to:

Demonstrate implementation of expanded quality control systems, compliance, organizational and other quality control standards

Demonstrate vision and transferrable value

FAQs

General

1. What is The MMBC Continuum M/WBE Vendor of Tomorrow Business Plan Grant Competition?
The MMBC Continuum M/WBE Vendor of Tomorrow Business Plan Grant Competition is a competitive grant program Sponsored by The MMBC Continuum to award a total of $25,000 in grants among three (3) minority and/or women-owned businesses. Winners will also be offered a tailored consultation/mentorship based on their competition entry.

2. What are the competition dates?
The entry period for the contest is September 4, 2017 (8:00 a.m. CST) – October 6, 2017 (5:00 p.m. CST).
Three (3) winners will be announced at The MMBC Continuum’s Robert R. Church Awards Luncheon on November 17, 2017.

3. What are the competition rules?
The contest rules can be found at www.mmbc-memphis.org.

4. How many grants will be awarded?
There will be a total of three (3) winners:

Grand prize: One (1) winner of $15,000

Second prize: Two (2) winners of 5,000 each

5. I have a questions not answered in the FAQ topic areas. Who can I contact?
All questions should be submitted in writing to pharris@mmbc-memphis.org and a response will be provided within 2 business days. Please be advised to submit questions well in advance of the competition end date as grant applications received after 5:00 p.m. CST on October 6, 2017 (competition end date) will be deemed ineligible for consideration.

Key Definitions

1. Scalability
The ability to leverage a firm’s fixed (sunk cost) and process infrastructure to add production volume without adding fixed cost.

2. Vendor of Tomorrow
The Vendor who stays abreast of dynamic changes in Purchasing organizations supply needs and requirements and anticipates those needs (skates to where the puck is going and not to where it is) to assure that the need is met in terms of price, quality, delivery and solutions and other market dynamics.

Eligibility

1. Who may apply for the grant competition?
Current certified, minority and women-owned business enterprise (M/WBE) members of The MMBC Continuum, in good standing, that have been in continuous operation selling a product or service for no less than twelve (12) months and have 99 or fewer employees is eligible to enter the competition. Refer to the Competition Rules for full eligibility.

2. Is a non-profit eligible for the contest?
Non-profits are not eligible to enter the contest. Please refer to the eligibility section of the Competition Rules.

3. Is an online-only business eligible for the competition?
Yes, if all other eligibility requirements are met. Please refer to the eligibility section of the Competition Rules.

How to enter

1. How do I enter my business into the competition?
To enter The MMBC Continuum Vendor of Tomorrow Business Plan Grant Competition, go to www.mmbc-memphis.org to download a grant application questionnaire package. Completed grant application questionnaire packages and the optional 90-second video “elevator speech” must be submitted by e-mail to pharris@mmbc-memphis.org by 5:00 p.m. CST on October 6, 2017. Grant applications received after this time will be deemed ineligible for consideration.

2. Do I need to be a member of The MMBC Continuum to enter the competition?
Yes, only current (as of the competition start date), certified M/WBE members of The MMBC Continuum are eligible to enter the competition and must remain so through the competition end date.

3. What information is required to enter the competition?
The following is required to be entered into the competition:

Business name, contact name, address, etc.(Cover Page)

Give us your elevator pitch (tell us what you do, what you sell, the service you offer…)

Tell us about your business, what inspired you to start your business, what makes your business stand out and what difference it makes in your community (job creation, poverty, etc.) and/or the environment

How would you use the Grant money to make a significant impact on your business?

How would your business best utilize and benefit from a consultation/mentorship award?

Provide a Strategic Growth Business Plan to include how you have prepared your business for strategic growth (Scalability) as a “Vendor of Tomorrow”. The business plan should be comprehensive and demonstrate how you have prepared your business to

Demonstrate implementation of expanded quality control systems, compliance, organizational and other quality control standards

Demonstrate vision and transferrable value.

*We ask that your response be no longer than 10 (ten) pages including all attachments and appendices in letter size, PDF format.

Up to 4 images of your business or product (1 image must be your logo), not to exceed 5MB each and must be in one of the following photo formats: .jpg, .png, .gif.

While not required, you may also upload an approximate 90-second video with your “elevator speech” about your business.

4. Can I start my entry and finish it at a later time?
No, only submit a completed grant application questionnaire package. You will not be able to edit, resubmit and/or submit additional documents after your first grant application package has been received. Make sure to attach all required information and grant applicant package before submittal.

5. Is there a deadline for entering the competition?
The deadline to enter the competition is October 6, 2017 at 5:00 p.m. CST.

6. How will I know if my grant competition application has been received?
You should expect an email notice confirming receipt of your grant competition application within 2–4 business days of submitting. Notification of receipt of your grant competition application does not guarantee eligibility. Grant applications received but deemed ineligible will not be considered. Please refer to the eligibility section of the Competition Rules.

Selecting Winners

1. How will the winners be selected?
The following elements will be considered in determining competition winners:

2. When will winners be announced?
Winners will be announced during Minority Enterprise Development Week (MED Week-November 13-17, 2017) at The MMBC Continuum’s Robert R. Church Awards Luncheon November 17, 2017. Grant winners are not required to be present to win.

3. How will winners be notified?
Finalists will be notified by email and/or by phone and will be invited to attend the formal award announcement at MMBC Continuum’s Robert R. Church Awards Luncheon on November 17, 2017. Winners may also be announced on The MMBC Continuum’s website, and in a media release.